Inadequate business laws deteriorated the business climate of Pakistan: Muhammad Sarwar

Lahore: Former Governor of Punjab and Senior Member Pakistan Tehreek-e-Insaf, Muhammad Sarwar said, “Corporate sector is one of the key drivers for the development of an economy. Without a stable corporate sector, no country can establish it’s firm position in the world market. Pakistan’s business climate has been facing certain constraints that has chained it to develop or grow any further. Pakistani entrepreneurs have been facing severe challenges that limits their businesses  to experience a thorough industrial growth. Soaring inflation, rising public debts, alarming energy crisis and sluggish economic growth have all added to the business calculus of Pakistan.”

 In a statement issued on Sunday Former Governor spoke about the  growing problems that businesses are facing in Pakistan. Both personalities mutually agreed that inefficient energy policies and inadequate business laws have deteriorated the business climate of Pakistan. “There is a pressing need for Pakistan to reform the business climate by implementing structured and well organized laws that are in the interest of Pakistani traders and entrepreneurs. Moreover, Pakistan’s women to men ratio in the business arena is fairly low which is why,  businesses should encourage the participation of women in various critical thinking and creative fields.”

Mr. Sarwar also highlighted the issue of increased load shedding in the corporate world. He asserted that laws should be enforced to streamline the business structure of Pakistan. “We need to strength our business ties with other foreign firms and boost bilateral trade and investment.
The government’s decision to cut all power supply in industries by 8 pm will add to the woes of the business community.  Gas, water and power shortages have all punched the businesses and economy in a dreadful manner.  By shutting down shops early will mean that people who are doing double shifts to support their families will not be able to do so.  People who work till 6pm will not be able to shop in the evening thus reducing purchasing and in turn impacting economy in a negative manner.  In the UK shops used to close early but this was not due to load shedding. Now shops, malls and restaurants remain open till late in the UK to facilitate shoppers and consumers which in turn boosts the economy.

In his conclusive statement,  the Former Governor stated, “Keeping in light the whole business scenario, PTI will ensure to devise an effective policy favoring businessmen and traders. PTI will strive for traders and businessmen. We will ensure that their concerns and issues are addressed and policies are rectified.

Meanwhile, the government should refrain from damaging the businesses with their futile policies and sincerely work on reforming the business climate.”